Dow Ends Up More Than 200 Points

11/19/2012 4:17PM

The Dow Jones Industrial Average staged a triple-digit advance as investors looked for signs of a compromise in Washington on the impending "fiscal cliff." Brendan Conway has details on The News Hub. Photo: Reuters.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... he's ... so this ... thing in sight ... we ads ... Tuesday's maize maze days ... of down Guantánamo and ... now it's up one ... starting Friday when ... John Bean or emerge from meeting the White House there was this kind of blanket of ... good feeling they came over traders use ought start Friday ... people are making bets ... that they're going to reach an agreement in Washington ... that averts the worst outcomes ... I firstly have my doubts ... I'd you lose like this in the context of what came before it is that ... when markets go down they just they can they don't just go down down down the dough down and then you become a little but ... they go down in the week the little that ... I don't think we seen the end of its ... auditing traders understand how short time frame this is for anything to get done in Washington ... much less during a lame duck ... so we've we've we've got to get it onto a deal my knees ... by the end of the year otherwise will hit with ... tax increases and spending cuts from the dumbing down to it to ... a minority senior ... businesses pull back on investment on her ... right and that he's put itself is the continues long enough ... cause a recession on its own ... yes I mean I mean yes yes I think I think that's absolutely true ... here thing you're seeing is the scene a lot of companies come out ... with these two special dividends now ... so that they can basically cut and ... give people the caps that maybe they would give them ... next year here you go having this uncertainty with today's payments ... that you think would come as much right which is fifteen percent on dividends is quite quite a nice type right yes yes so we see Cummins like Wal-Mart doing that ... you have to ask yourself ... you know you really think that they're not applying the same thinking to the other aspects of their businesses ... of course they are of course they're watching this closely ... aam ... today even trader CVB keying off the fact that prison Obama said he's confident ... we'll get a deal that both sides ... I mean not neither side has blinked yet ... you need somebody to compromise in order for there to be a deal ... I don't see any sign of any real concrete sign so we have the fig leaf that that Andrew was hiding behind this this thing that the single will be fine with to increase tax revenues is fine as long as the increased tax rates that's on the Republican side ... and present Obama saying that yes we need more revenues and not really running down the rates point about raising rates is that I mean that seems to be the fig leaf that everyone wants to hide behind a slate of data Michael what I wanted I is that still in operation ... yes I mean I mean a lot of there's a lot of this is just ... how you define rates or more portly ... what you define as a new poll Rate one person's loophole is on other industries like wind ... and I'm you know the meaning of the of the tax code is Swiss cheese for reason it's because ... they're concentrating futures pushing the stuff and a lot of horse trading still has to go on for dear BDO IPAB and we will have a couple of weeks ... before we at minimum get to two thousand thirteen ... I'm in and which point till half director actively picks to stop it it gets ugly neared the end ... of two hundred point rally in the Dow ... today would suggest ... this evening we could see someone on this or that Cynthia across the board the rally of up to the Treasury market which seem to ... pull pull back to that was saying I mean on small small cap stocks big cap stocks ... Ford only I mean look at that and we've got a little more politically and that that day was over doing quite well ... do we know wanted the with Kennedy and the idea was it just people saying it's up ... maybe one for Trenton ... yet I mean the last one trend following strategies at ING Wilson will will sort of see this in the meantime if the type that ... you know when you see a market that was up an open up gradually throughout the day when you see such a broad based move after this declines ... you know that this is still a market that is in macro mood right this is not a stock picker's market meaning if you wanna buy ... you know was stopped last week and plunging ... it that's great for stockpickers but in terms of what's going up this is not moving its being driven by ... you know people being selective ... this is one day people dumping everything in the next day may be the same people making other people ... of buying with both hands so that the three big if it economic areas of the wells up to oversee the US which we took him at which could fall into recession if we kept ... massive tax ice my anyway because the uncertainty ... and doubt we have Europe which is the master has been for a long while seems to repeat the ... website main if not ... awfully was trading Honeywell China which is slowing down if the US does go into recession ... is that subtle that's all for the entire world economy ... I mean I don't I don't see eye to see anything really bright ... out here except for the US and maybe ... Yelp Chinese data is getting better knew that ... the Chinese data isn't a powerhouse team that we've had no ... position showing that the country probably won't be the car has been for the last decade ... but I'm yes I mean I mean when we're in a tough place if the US is in recession ...